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By July 1990, Australia had entered a severe recession. [6] Initially, the Treasurer had insisted Australia would face a "soft landing", but after receiving the September quarter accounts indicating a large contraction of 1.6 per cent, he adopted a different political strategy, instead arguing that the downturn was a necessary correction by ...
The gold rushes caused a huge influx of people from overseas, including from many non-British sources. In the 1850s Victoria was Australia's gold mining centre, its population increasing from 76,000 in 1851 to 540,000 in 1861. Australia's total population more than tripled from 430,000 in 1851 to 1.7 million in 1871. [9]
A recession is a period of two quarters of negative GDP growth. The countries listed are those that officially announced that they were in recession. It is worth noting that some developed countries such as South Korea and Australia did not enter recession (indeed Australia contracted for the last quarter of 2008 only to grow 1% for the first half of 2009).
The country just released data showing its economy hasn't experienced two straight quarters of negative growth since 1991.
In the most up-to-date WIPO-supported study published in 2017, [169] the copyright industries contributed $122.8 billion to the Australian economy in 2016 amounting to 7.4% of Australia's total economic output. The 2016 figure represented an increase of $8.5 billion compared to 2011, with a growth in value added growing at 1.4% per annum (since ...
A recent string of disappointing economic data has raised concerns about the possibility of a recession. Here are the top factors that could trigger a recession, according to Societe Generale Skip ...
The recession officially starts at the end of 1992 and beginning of the 1993. It is a brief but important recession: GDP drops 0.5% in the last quarter of 1992 and 0.9% in the first quarter of 1993. The drop is amplified by weak exports figures as most of France's trading partners also entered recession at the end of 1992.
The term recession is being thrown around a lot. Here are the basics.